Certain Debt. The Company will not at any time permit the sum of (i) Non-Operating Indebtedness of the Company that is secured by a Lien on any property or assets of the Company and its Subsidiaries and (ii) Non-Operating Indebtedness of the Subsidiaries of the Company to exceed $500,000,000, except (a) Debt set forth in Schedule V hereto, (b) Debt of any Subsidiary of the Company owing to the Company or another Subsidiary of the Company and (c) additional Debt not permitted by the immediately preceding clauses (a) or (b) consisting of surplus notes issued by Subsidiaries of the Company that are operating Insurance Subsidiaries in an aggregate amount of up to $1,000,000,000 outstanding at any time.
Appears in 4 contracts
Sources: Revolving Credit Agreement (Equitable Holdings, Inc.), 364 Day Term Loan Credit Agreement (Equitable Holdings, Inc.), Revolving Credit Agreement (Equitable Holdings, Inc.)